USCBC Statement on China's Retaliatory Tariffs

WASHINGTON, DC - August 23, 2019 - President Trump today tweeted a response to China’s announcement that it would retaliate against the latest set of tariffs announced by the White House, scheduled for September 1 and December 15. 
As many as 2.3 to 2.6 million American citizens work within the framework of US-China trade and investment. American workers, farmers, ranchers, consumers, and companies will all be hurt by increased trade and investment tension. 
The downward cycle of tariff and counter-tariff should stop before more damage is done. President Xi and President Trump should order their trade negotiators to meet and resolve outstanding differences between the two countries.
A trade deal that addresses the legitimate concerns articulated by the USTR in its Section 301 Report would be in the mutual interest of both China and the United States. Such a deal is within sight and should be pursued vigorously and as soon as possible.  
A trade deal would allow both governments to put a floor under the trade and technology dispute. Equally important, a trade deal would provide diplomatic space for the two governments to work more effectively in the national security area.